BAVIS_1170X120_10-19-20

Albertsons Cos. reports sales gains in Q4

Print Friendly, PDF & Email

BOISE, Idaho — Albertsons Cos. reported sales and other revenue of $15.8 billion for the fourth quarter, up about 2.3% versus the prior-year period. The increase in sales was primarily driven by an 11.8% increase in identical sales, partially offset by the impact of the 53rd week in the fourth quarter of fiscal 2019, as well as lower fuel sales. Identical sales also benefited from the company’s 282% growth in digital sales.

But the company’s share price fell in early trading on Monday, after the company reported a net loss of $144.2 million for the quarter, compared with net income of $67.8 million in the year-ago period.  The quarterly loss included a $449.4 million charge, net of tax, related to the company’s combined pension plan.

Adjusted net income was $347.2 million during the fourth quarter, compared to $194.2 million during the fourth quarter of fiscal 2019.

For the full year, Albertsons Cos. reported sales and other revenue of $69.7 billion, up from $62.5 billion during the 53 weeks ended February 29, 2020. Identical sales were up 16.9% for the year, and digital sales grew by 258%.

Net income for the year was $850.2 million, compared to $466.4 million for fiscal 2019. Adjusted net income was $1.89 billion, up from $612.1 million in fiscal 2019.

“We are very proud of what our team accomplished in fiscal 2020, serving our customers and communities throughout the COVID-19 pandemic,” Albertsons president and CEO Vivek Sankaran said. “As a result of our strong execution, we delivered record full-year results, drove meaningful market share gains and are well positioned for continued success and strong performance in fiscal 2021.

“We have made substantial progress against our strategic priorities, and are still in the early innings of our transformation journey. Looking ahead, we remain committed to further strengthening our relationships with our customers, offering a superior shopping experience and generating value for all stakeholders.”


CAREBOOK_728x90_5-3-21

JET_728x90_5-6-21

Comments are closed.